The announcement came during the 2026 WBG‑IMF Annual Meetings in Bangkok, where more than 15,000 delegates from 191 countries convened.
Pakistan’s appointment marks the first time since 1953 that the country will host the Boards of Governors, a move the ministry hailed as a "historic milestone".
Cheema will oversee policy discussions while Pakistan remains engaged under a US$7 billion Extended Fund Facility and a US$1.4 billion Resilience and Sustainability Facility, which aim to shore up the country’s balance‑of‑payments and climate resilience.
The chairmanship also positions Islamabad to negotiate the forthcoming US$1.2 billion disbursement from the IMF, pending approval by the Executive Board.
Cheema said the role would enable Islamabad to shape global economic conversations and foster constructive dialogue among member states, a goal he believes will benefit Pakistan’s long‑term recovery.
The IMF Executive Board is scheduled to vote on the disbursement in early November, a decision that will set the tone for Pakistan’s next phase of economic reform.